ASSIGNMENT 1: A
INTRODUCTION
Lovely Indian food is a small business located in Manurewa Manukau City. The fully licensed restaurant and enjoy both the food and the way the customer has the option to take. Lovely Indian food with the idea to give real authentic Indian flavour was launched in 2007. In the early days, but the hard work is done in collaboration with local people. Lovely Indian food in various cities in New Zealand is targeted to open more branches. Lovely Indian food is different from others is the secret, which comes with homemade spices. If you have not tried our product, you are missing the real Indian food. Lovely Indian food at its very best is invited to a night of good food. A warm and cosy and with a better atmosphere and service is very quick and good.
Part A
Students are expected to determine the values, beliefs and a vision for the small business they have chosen to build a foundation for the strategic plan.
2. Identify and discuss the following values and beliefs appropriate for small business you have selected:
Ethics:
Respect: Treat others with the utmost of respect. Regardless of differences, positions, titles, ages, or other types of distinctions, always treat others with professional respect and courtesy.
Be faithful: they can rely customers want to do business with a company, recognize, trust is at the core of a company, it is easy to recognize. Trust defined, a business character, ability, strength, and assured reliance on the truth.
Social Responsibility:
Our restaurant, social, cultural, economic, and environmental issues and sensitivity to behave ethically. We have a restaurant of its employees and their work in time for a nice dress to support Needful Things. We also help us to medical insurance is useful for their future , which focuses on employee health care . We are not like they use to power down the computer when we use less electrical energy. The restaurant has always helped the poor and gives to charity funds.
Life-Style Preferences:
We offer a lifestyle of healthy eating in our restaurant. We provide great service to customers at affordable prices. Little research attention before and diversity of lifestyle factors seafood consumption has been paid to understanding the relationship between complementary .are used. We offer a lifestyle of healthy eating in our restaurant . We provide great service to customers at affordable prices. Little research attention before and diversity of lifestyle factors seafood consumption has been paid to understanding the relationship between complementary are used.
3) (Vision Statement)
A) How would a vision Statement help the small business you have selected?
As a vision statement reaches out to the customers how which to know why would they prefer dining this particular restaurant or other restaurant in this city. A vision statement is very important in order to change of person’s point of view which would in order benefit my business.
b) Propose an appropriate vision statement for the small business you have selected. Justify the proposed vision statement.
‘Vision statement for my business’ is Indian food made by hand doesn’t taste as good as made by heart and over here we only believe in making food from heart. We select the finest blend of Indian spices and traditional age old recipes to serve our patterns with scrumptious Indian cuisine. So for a perfect Indian meal this is a place to dine in. We are not only focus on Indian food we are also have continental, Italian, Chinese foods which help us to reach at the goal.
PART B
Students are expected to perform environmental scan, and analyse the key internal and external factors that will contribute to the development of the strategic plan.
4) External Environment:
a) Discuss the external environment of the business using PEST analysis. The analysis involves indentifying at least one political/legal factor, one economic factor, one socio-cultural/demographic factor, technological factor that may impact on the business.
Social – our restaurant, deliver food, clothes and many more to help poor people contribute. We have demonstrated their faith in the consumers, families and communities did. For example, healthy attitude, or a large retiree population in a number of variations. A harmonious blend of small businesses, there are diverse disorganized and lacking the external environment is a major obstacle. Small businesses are representative of specific areas such as restaurants or go Manufacturers Association. Lovely Indian food is always poor people and helps to attract more customers.
Economic, labour, taxation, government spending, general demand, interest rates, exchange rates and European and global economic factors that affect depends on a few factors. Small businesses do not receive their share of respect and not take advantage of both political and economic influence in proportion, despite its economic importance.
Political – changes in government policy in an area of new housing subsidies would be good for the local brickworks as to how to fix, affect business. Business rules and laws affect politics in general. It is also concerned about political issues and their development can be. Generally politically regional, national and international air divides it in like manner. Government to change its policy with the company’s strategy is to change its policy for their employees.
Changes in production processes and product innovation technology – high speed affect a business. The new machines allow the production is generally very expensive, so this will affect the company’s finance function. Restaurant data out of the oven and pan finished, they have a better quality, faster may need to purchase new food can be. The company’s workload is reduced because the worker whose techniques have to change with changing times. The company’s employees to new equipment.
b) Indentify and discuss three (3) opportunities and three (3) threats that the business might face.
(Opportunities)
1) It can be upgraded to local chain of restaurants which include Franchises of this restaurant. It can also become an international chain of restaurants so that the reputation of the company will maintain in whole of the world.
2) Perhaps collaborate with a movie theatre to start a dinner and movie package.
3) To achieve the goal, they are a great team to serve themselves and the company’s success, motivation and power. They make the same commitment to customer satisfaction their enthusiasm, excellent customer service and teamwork needed to share.
(Threats)
1) The taste of people keeps differing. If the cuisines are not expanded the business can be suffer losses due to reducing customer base.
2) High-quality product costs.
3) Today there are many competitors in the market which give the tough competition and the threat of the company is that to make their company at the top among all competitors.
c) Discuss two (2) majors’ external trends that may/will impact on the business.
Competitors-Competitors actions affect the ability of the business to make profits, because competitors will continually seek to gain an advantage over each other, by differentiating their product and service, and by seeking to provide better value for money.
Social System-The social system is the fabric of ideas, attitudes and behaviour patterns that are involved in human relationships. In particular businesses are influenced by consumer attitudes and behaviours which depend on such factors as the age structure of the population, and the nature of work and leisure.
5) Internal Environment:-
a) Identify and explain three (3) strengths and three (3) weakness of the business/company you have selected.
STRENGTHS
1) It is always ready to give you best service in 24 hours any time at any place like we have home deliveries also.
2) The special thing of the restaurant is to provide good quality food at affordable price because many competitors are in market or customer feel proud of restaurant’s staff members by getting good services by them.
3) Excellent wine & cocktail menu- they are famous for their Bellini.
WEAKNESS
1) Picky eaters may have trouble with the ‘fine dining’ aspect of it. I have friends who do not like the restaurant because the meals are too fancy.
2) There is only one location in, Auckland so due to this people will may face time difficulties to come from other cities or town.
3) Sometime restaurant have dishonest staff members who tell lie about their using vegetables stock just to please vegetarians who may not be able to tell the difference after all until they react.
b) Described the 3 aspects of an organizational culture of the business/company you have selected.
1) Staff Meetings: – Regular staff meetings give employees the opportunity to communicate with each other and with management and to resolve issues before they become corrosive to morale. Staff meetings show employees that their opinions are important to owners and managers, as long as the meetings involve two-way communication and are not simply a monologue from the boss. Staff meetings can double as opportunities for business communication and for a break from work involving food and a bit of relaxation.
2) Uniforms: – Uniforms provide a visual cue that the people working in a restaurant are a team and are all striving toward the same goal. They can also remove awkward situations involving employees who are not wearing appropriate clothing for the restaurant venue. Many employees appreciate having uniforms provided by the company, because restaurant work can be greasy and sweaty, and having a staff uniform prevents wear and tear on one’s personal clothing.
3) Annual party: – Annual parties usually happen around the end of December or the beginning of January. Although people go to annual parties to enjoy themselves rather than to strengthen their companies, spending casual time together offers the added benefit of letting staff get to know each other better while enjoying them. When management foots the bill for a big dinner or bash around Christmas time, it sends a clear message to the staff that they are appreciated, and this can improve employee morale and lead to a stronger company culture and greater staff loyalty.
6) Identify and explain whether or not the company has any advantage over its competitors. In case the company has not yet gained competitive advantage, it must be explained how it might be achieved.
‘ Wi-Fi: Many people like to be connected at all times. By offering free Wi-Fi, especially if your customer base includes a lot of business people or students, you’ll attract people who need to work while Dining.
‘ Accept Credit Cards: While it’s tempting to only accept cash to avoid Merchant paid credit card fees, it creates a bad customer experience. Most people do not carry cash on them at all times, so if they have to stop by an ATM before Heading to your restaurant, there’s a good chance they’ll simply head somewhere else that does accept plastic.
‘ Offer Takeout & Delivery: For a Variety of reasons, people cannot or do not always want to eat in a restaurant. Offering takeout, and delivery if you can, will open your restaurant up to an entirely new set of customers.
‘ Put Your Menu Online: Whether due to Dietary restrictions or personal preferences, many people like to look over your menu before stepping foot into your restaurant. Something as simple as putting your menu online can give you a Competitive Advantage over other eateries in your area.
7) Business Life Cycle
a) Describe the four (4) stages of the product/service life cycle for the business you have selected.
The Introduction Stage: – Lovely Indian Cuisine offers authentic Indian Cuisine at various locations in New Zealand. All restaurants are fully licensed and both dine in and take way options for you to enjoy. It been started in the Year 2000 with the idea to give real authentic Indian Cuisine. It’s been hard work at early days but with the support of locals, the Brand Opened 7 branches in few years. Now it targets to open more branches at different cities of New Zealand.
The Growth Stage:-.There is many factors that can Increase a new restaurant’s chances for success in the areas of planning, location, market analysis, concept, menu, financial feasibility, staffing, Operating systems and more. We are focused on bring content in a Variety of formats to these areas with the Objective of providing you with resources that will enhance your ability to better plan the opening process, evaluate the financial feasibility, make more informed decisions and go into the development process with tools to stay Organized and on track with your plan. Growth of restaurant it takes lots of planning, capital, hard work, Perseverance, and a little luck does not hurt either, to launch a new restaurant that hits the mark and becomes a financial success.
The Maturity Stage: – Maturity begins when sales come to a plate. The business is thriving with a good customer base and regular cash flow. It’s now that a more formal, detailed approach towards planning should take place. During growth, it is more important to make quick decisions with a good chance of success. Now the rate of change has slowed, more detailed long term plans can be made.
The Declined Stage:- It only focus on particular group which are interested to come in our restaurant and provide everything what the customer need in that stage company make the new plan and vision for the company.
b) What stage of the life cycle the business/company is currently at? Give two (2) reasons to justify your answer.
The life cycle of the Company is currently at The Growth Stage
Emerging
Currently talk of India Restaurant Company is at the stage of growth because the business is growing day by day at a stretch because today company expand their business in popular countries like as New Zealand, Canada, Australia, UK, and India also. And it’s attaining more and more profit by providing quality services to the customers.
Successful
It growing day by day by giving hard competition to its competitors by provide good quality food at affordable price because many competitors are in market or customer feel proud of restaurant’s staff members by getting good services by them.
8) Identify and explain three (3) critical success factors for the business you have selected.
‘ Having a great menu and a big marketing budget might help you attract customers to the restaurant, but it might not be enough to keep your doors open. In fact, some restaurants become victims of their own success, bringing in many customers but making no profit off any of them.
‘ Controlling your costs, meeting your legal obligations and managing your cash flow are just a few key factors in reaching and maintaining success in the restaurant business.
‘ Many restaurateurs fail to keep control of their food costs, with some having no idea what their direct food costs are for each meal served. In addition to covering the cost of the meat, vegetables, fruits and other items on each plate, your tickets must cover your operating costs, such as rent, labour, marketing, insurance and phones.
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